Insurance Claim Process

As part of our responsibility towards ensuring a safe and financially strong future, we recommend our customers to secure their lives against any form of debt. This helps them in long stead as the family is safeguarded against any untoward and unexpected accidents. To provide a seamless process to cover the precious lives of our customers, we have tied up with the Kotak Old Mutual Life Insurance Company. KLI is amongst the industry pioneers when it comes to servicing the customers in the Tier II and Tier III cities. With a robust claims handling team, they guarantee a hassle free and timely claim settlement for its strategic partners. The claims process is simplified so that it is easy to be followed by anyone.

We take pride in the valued relationship with our customers and it is with this zeal that our Relationship officers play a pivotal role in claims handling and settlement. Below is our claims settlement process:

Customer

As part of our relationship, we recommend our customers to opt for insurance covering self & co-applicant against death. Spouse is the co-applicant in majority cases but any blood relation can become a co-applicant. Insurance coverage is equivalent to the loan amount and for the period of loan tenure. The insurance coverage is very minuscule and is deducted from the disbursement amount.

Community Finance

It is our earnest endeavour to help customer in times of need. At the event of tragedy in the family, it is the responsibility of our relationship Officer to get in touch with the customer’s family and help them with the process of claim settlement should be least of the worry for the customer’s family. The Relationship officer completes the documentation.

Insurance Partner

As a strategic partner, it is responsibility of the earliest. as per our process, when the company receives the claim documents, they process the outstanding loan amount to us and the remaining amount to the customer’s family. For example, if loan amount is ₹10,000 and the family receives ₹40,000

Our insurance product offers joint life cover which covers applicant and co-applicant at the same time under a single policy.